Tag: ETF

Fidelity’s spot Bitcoin ETF reaches $1b inflows

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Fidelity’s Wise Origin Bitcoin Fund became the second spot Bitcoin ETF to surpass $1 billion in inflows, achieving this feat just five days into trading. Following closely on the heels of BlackRock’s iShares Bitcoin Trust (IBIT), the first of the newly approved BTC ETFs to hit the $1 billion assets under management milestone on Jan. 17, Fidelity’s FBTC accumulated $874 million in inflows up to that point. Provisional data shared on Jan. 19 by BitMEX Research on their X page indicated that Fidelity’s total inflows reached over $1 billion on…

IntoTheBlock explains why Bitcoin’s price fell after ETF approval

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IntoTheBlock provides insights into the unexpected downturn in Bitcoin’s market, particularly following the approval of the Bitcoin ETF. Data shared in a Jan. 19 X post by blockchain analytics firm IntoTheBlock shows that Bitcoin (BTC) prices have decreased by approximately 10% in the past week, a trend that contradicts many market predictions. The firm’s analysis reveals several key factors contributing to this trend. There has been a significant increase in Bitcoin inflows into centralized exchanges for the past six weeks, with nearly $2 billion in net deposits since December. This…

Direxion submits five leveraged spot Bitcoin ETF applications

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Financial products provider Direxion has filed to register five Bitcoin (BTC) ETFs. Bloomberg analyst James Seyffart reported that on Jan. 18, Direxion filed to register five leveraged Bitcoin ETFs with the U.S. Securities and Exchange Commission (SEC). Direxion’s documents show plans to create Bitcoin funds with long leverage of 1x, 1.5x, and 2x, and one for each fund with short leverage. Leveraged ETFs are exchange-traded funds structured to mirror the daily returns of an underlying index. Bloomberg ETF analyst Eric Balchunas also noted in a commentary that leveraged Bitcoin ETFs could…

No More Than 50% Chance of Spot Ether ETF Approval By May, JPMorgan Says

Since the BTC ETF narrative gripped the market last year, traders have been looking at ether as the next likely candidate to get a spot ETF approval in the U.S. Reflecting this sentiment is the discount to net asset value (NAV) for the Grayscale Ethereum Trust (ETHE), which has been contracting since the summer, and has lingered around 12% over the last two months, according to JPMorgan. Source

Hong Kong’s Venture Smart Financial to launch spot Bitcoin ETF in Q1

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Venture Smart Financial Holdings Limited, a financial services firm based in Hong Kong, is set to introduce its spot Bitcoin exchange-traded fund (ETF) in the city in Q1. Brian Chan, the group head of investment and product at Venture Smart Financial, shared in an interview with Bloomberg that the company aims to accumulate up to $500 million in assets under management by the end of 2024, recognizing the immense potential in the market. “It’s a market that has huge potential. Our goal is $500 million in assets under management by…

ARK Sells $15M of ProShares Bitcoin Strategy ETF and Buys its Own ETF

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Bitcoin decreases 12% to below $42k following spot ETF hype

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Following the anticipated launch of spot Bitcoin ETFs and the expectation of a price surge, Bitcoin has seen a pullback to $41,825, according to a Jan. 18 post on CoinGecko. Bitcoin (BTC) had initially made headlines for hitting $49,000 for the first time since December 2021, as trading opened for spot BTC ETFs across major U.S. exchanges. However, the price of the world’s largest cryptocurrency has since decreased in what some predict might be the start of a larger pullback. The approval of spot Bitcoin ETFs on Jan. 10 was recognized…

Bitcoin (BTC) Price Plunges Below $41K as Bitcoin ETF Fever Breaks

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Investors may miss out on this key tax loophole if they actively trade a spot bitcoin ETF

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Spot bitcoin ETFs are barely a week old, but tax attorneys and accountants are already warning investors who actively trade the funds the same way they do cryptocurrency itself that they may miss out on a tax saving strategy. Right now, investors who regularly trade cryptocurrency can take advantage of a quirk in the tax code : They can sell losing positions in bitcoin and ether, harvest this realized loss to offset taxable capital gains elsewhere in their portfolio, and then immediately buy back the crypto position on the cheap…